Goodman Segar Hopes Study Lures Big Retailer

April 19, 1990|By NEIL CORNISH Staff Writer

HAMPTON — Goodman Segar Hogan has hired a marketing research firm to perform a feasibility study for a midrange to better-end department store to replace the closed Miller & Rhoads in Newmarket North mall.

The marketing firm has worked with the potential department store in the past, said Kim Hamel, retail management director for Goodman Segar. Goodman Segar owns and leases the mall. Hamel declined to name either the firm or the department store.

Hamel said the company hopes to have a report from the research firm in 30 days. The company was hired four to six weeks ago, he said.

The firm will study several aspects of the area's demographics - such as population and area income - to determine how much business a store could hope to do in Newmarket North, Hamel said.

Miller & Rhoads closed its doors in Newmarket North on Jan. 31. The Richmond-based department store chain elected to sell all company assets in November after an attempt to reorganize failed.

Miller & Rhoads sold four of its stores to the May Department Stores Co. of St. Louis for $22.7 million. May inserted its Hecht's department store division in the stores, in Greenbrier Mall in Chesapeake, Lynnhaven Mall in Virginia Beach and two Richmond-area locations.

Newmarket North is in the midst of a $9 million renovation project. The work includes the addition of a 12-store food court, a carousel, a permanent stage and fountains. About 13,400 square feet of tinsel fabric and skylights will be added to the mall.

Hamel said the mall's renovation is on schedule and should be completed by October.